Mangalore Refinery & Petrochemicals Ltd. and Essar Oil Ltd. declined in Mumbai after an Iranian trade official said the Middle Eastern nation may halt crude sales to India in two weeks if a payment impasse isn’t resolved.

Mangalore Refinery & Petrochemicals Ltd. sold 35,000 metric tons of naphtha for loading between March 16 and March 18 from New Mangalore port in India at a premium of $18 a ton to Middle East prices, ICIS reported today.